Budget surplus next year becoming more challenging, English reveals

Fri, 01 May 2015

By Pattrick Smellie May 1 (BusinessDesk) - Finance Minister Bill English is warning that achieving a budget surplus next year is becoming more difficult, with the Treasury forecasting tax revenue will be $4.5 billion lower over the next four years than was expected a year ago. In his traditional pre-budget speech to the Wellington Employers' Chamber of Commerce, English said the May 21 budget would show how very low inflation would eat into the tax take because the dollar value of all economic activity rises more slowly than when inflatio...

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